During the recent 2014 Kia EV Day APAC, the Korean carmaker unveiled four new electric vehicles for the region. This includes the Kia EV3, EV4 Concept, EV5 and the PV5 Concept which are set to arrive starting in 2025.
While these EV models are priced between USD 35,000 and USD 50,000 (about RM157,000 – RM225,000), Kia has highlighted its goal of introducing a full line-up of EVs at various price points.
Kia to offer affordable entry-level EVs including EV2 and strategic models
During the event, Kia says it will introduce cheaper entry-level EVs which would definitely help to drive mass adoption. This include its upcoming EV2 and strategic EVs for the emerging market with a targeted entry price of less than USD 35,000 (about RM157,000). However, they have to provide a clear timeline for its entry-level EV lineup.
The Kia EV2 has been caught testing on public roads and it looks like a boxier version of the Hyundai Inster.
For now, Kia’s next cheapest EV set to arrive in Asia Pacific is the EV3. It’s a B-segment EV with a front wheel drive setup and it offers up to 605km of range from a 81.4kWh battery.
In most Southeast Asian markets, the EV industry is predominantly dominated by Chinese players such as BYD which offers variety of EV models at significantly lower price points. In Malaysia alone, BYD has introduced a total of 5 models from the BYD Dolphin hatchback to its Sealion 7 premium SUV.
Kia emphasised that it is focused on looking for the market instead of pushing volume to the market. It added that Kia’s brand target and brand endeavour is different from Chinese manufacturers, therefore they can’t be compared by just pricing alone.
With its ambitious goal to sell 1.6 million EVs annually and an EV sales market share of 38% by 2030.the brand aims to have 6 EV production bases worldwide by 2025. The production bases include Korea, Europe, US, India, China and Asia Pacific.
The Korean carmaker also recognised the need for a strategic approach for emerging markets due to the relatively slower transition to electrification.
Kia to develop market specific EV strategies, expanding hybrid lineup
In the APAC region, the EV policy varies by country. Kia says they will develop market specific EV strategies that may include local development and assembly. It believes the transition to electrification is not an option but a necessity.
Kia is also expanding its Hybrid Electric Vehicle (HEV) lineup for consumers who may be hesitant to purchase electric vehicles. The brand currently has 6 HEV models in 2024 and it plans to expand to 8 models in 2025.
